In 2022, responsibility poses a great deal to the social insurance industry, especially in the implementation of new policies and goals. At Government meetings, the Prime Minister has repeatedly highly appreciated the determination of the Ministry of Labour, Invalids and Social Affairs and the Vietnamese social insurance industry in implementing policies to support employees according to Resolution No. 68, Resolution No. 116.

Minister of Labor, War Invalids and Social Affairs Dao Ngoc Dung also made an assessment on the role of Vietnam's social insurance industry in the implementation of these Resolutions, thereby demonstrating the role of the industry in social security work as well as in ensuring the interests of employees and businesses in the context of the epidemic.

Minister of Labor, War Invalids and Social Affairs Dao Ngoc Dung (Source: Internet)

The Vietnam's social insurance industry has made great efforts in implementing the Resolutions

According to the Minister, the 4th outbreak of the Covid-19 pandemic has severely affected the life, labor, employment and social security of people and employees. In that context, Vietnam's social insurance industry has made many efforts, on the one hand, actively implementing social insurance policies and regimes; on the other hand, actively and decisively joining with the Ministry of Labor, War Invalids and Social Affairs to advise the Party, State, Government and Prime Minister to promulgate mechanisms and policies, especially Resolution No. 68/NQ-CP and Resolution No. 116/NQ-CP on policies to support people, employees and employers affected by the Covid-19 pandemic. These are unprecedented policies, meeting urgent requirements in the context of the epidemic having a heavy impact on many aspects of social life, especially for people, employees and businesses. During implementation, these two resolutions have received great attention and support from the audience and public opinion. Resolution 68, has contributed to alleviating difficulties for objects in life, especially people and employees during the time of social distancing, so that people can feel secure to stay right where they are. After only 7 days of promulgating the Resolution, the VSS completed the reduction of contributions to the labour accident and occupational disease insurance fund for 375,000 units with over 11.2 million employees and about VND 4,322 billion. As of December 31, 2021, 851 units have been settled with 161,531 employees who have temporarily suspended payment to the retirement and survivorship fund with an amount of more than 1,119 billion VND; confirmed the list for more than 3 million employees of 71,142 employers enjoying the policies.

Especially when Resolution 116 came into effect, in just 5 days, the VSS completed sending notices of reduction of contributions to the unemployment insurance fund to over 363,000 businesses with an amount of over VND 7,595 billion. As of December 31, 2021, the support regime has been paid to 12.94 million employees with a total amount of VND 30.73 trillion; completed ahead of schedule with quick and simple procedures and highly appreciated by enterprises and employees. This is a policy that ensures the principle of contributing and enjoying with equality; with risk sharing; showing the role of the support of the Unemployment Insurance Fund for employees and employers.

Illustrative image (Source: Internet)

Continue to effectively implement policies to support employees and businesses

Regarding the development of social insurance participants according to Resolution No. 28-NQ/TW, Minister Dao Ngoc Dung commented: In the period of 2019-2021, as an organization implementing policies on social and health and unemployment insurance, Vietnam's social insurance industry has accompanied ministries, branches and localities to make positive contributions to the development of beneficiaries of social insurance in general, especially there is a breakthrough in the development of participants of voluntary social insurance, exceeding the target set out in Resolution No. 28-NQ/TW.

2022 is the first year we aim to complete the goals of developing social insurance participants according to Resolution No. 28-NQ/TW. Accordingly, to strive to by 2025 reach about 45% of the workforce of the age group participating in social insurance, of which farmers and informal sector workers participating in voluntary social insurance account for about 2.5% of the workforce; about 35% of the labor force in the age group participating in unemployment insurance. This is not an easy task because, in the period of 2022-2024, the goal is to increase about 2 million people participating in social insurance each year on average, while the population growth rate in the previous period was only about 800,000 people/year; not to mention the huge impact of the Covid-19 epidemic from 2020 up to now.

Therefore, in order to achieve the above goals, in the coming time, the entire Vietnam's social insurance industry must determine that this is the most significant and vital task. Therefore, it is necessary to promote propaganda and policy dissemination on the law on social insurance; organize correct, sufficient and timely collection; exploit and manage subjects participating in social, health and unemployment insurance according to regulations; settle social insurance regimes accurately and in a timely manner; continue to improve management capacity, innovate service methods, further promote administrative procedure reform and digital transformation to gradually strengthen the trust of people and businesses; proactively advise and propose to Party committees at all levels, local authorities, closely coordinate with departments and branches to implement target development targets; strengthen the specialized inspection of payment of social insurance; promptly detect and handle violations of the law, evasion of payment, fraud, and profiteering of social insurance.

Illustrative image (source: Internet)

Macro solutions in need to limit the status of one-time social insurance allowance

The solution to the above problem is that the State has been and continuing to deploy policy packages to support workers and businesses to overcome the immediate difficulties (In 2020-2021 alone, the Ministry of Labor - Invalids and Social Affairs shall assume the prime responsibility for, and coordinate with ministries, sectors and VSS to advise the Government on promulgating support policies from the social insurance fund of over VND 50 trillion).

In the long term, it is necessary to have comprehensive macro solutions to promote economic growth, create jobs, and improve the income and living standards of workers. Only when employees have a stable income and enough financial resources to cover living expenses with accumulation, will they be able to save and contribute to receive benefits when they are old. As many employees still do not have access to sufficient information about policies to be able to make reasonable decisions, the social security industry together with ministries, branches and localities need to further promote communication, policy information; only when employees are fully aware of the benefits of participating in social insurance to enjoy retirement benefits when they are old can they make the right choice./.